It’s no secret that pursuing Forest Hills co-ops is a little intimidating. In addition to the typical stressors that home buyers face, co-ops require potential buyers to complete a board package.
Co-op boards need to make sure that potential buyers can hack the financial commitments of living in the building. They also want their building to be a pleasant place for their residents to hang their hats. This is where the board package comes into play.
A board package is more than a few pieces of paperwork stuffed into a folder. They get pretty in-depth, asking for financial information, personal references and the like.
Don’t let the board package scare you away! Prepare your application for Forest Hills co-ops one step at a time using these four tips for success:
- Draft an intro letter.
Think back to the last time you submitted a résumé for a job. You probably included a cover letter, didn’t you? An intro letter is the same thing. Kick your board package off with a short note telling the board who you are and what you love about the co-op. While you’re at it, include a summary of your most significant financial information so that the board doesn’t have to dig through your package to learn the basics. - Be organized.
Organizing your board package for Forest Hills co-ops is half the battle. Co-op boards appreciate applications that include a table of contents. Use tabbed dividers and color-code your application sections for easy navigation through the pile of paperwork. - Neatness counts!
If the co-op board can’t read your board package, they will probably move on to the next applicant. Fortunately, this is an easy fix. Type your application to keep it in the running. - Don’t leave any blank spaces.
Blank spaces indicate that you have something to hide. If you must leave a blank, include an explanation and be ready to address the issue at your board interview.
Forest Hills co-ops are worth the effort! Get in touch with Forest Hills Realty today to learn more about this real estate opportunity.
Contact us today at (718) 997-6000 or email us here for more information.
